March 31, 2025
Over 1.6K ATMs
The AUSTRAC crypto taskforce, formed last December, identified troubling trends linked to crypto ATMs, including scams and suspicious activity.
Crypto ATMs, or kiosks, let users buy or sell cryptocurrencies like Bitcoin (BTC) using cash or cards, often without the same identity checks as traditional financial systems.
Source: AUSTRAC
Australia now has over 1,648 crypto ATMs, the most in the Asia-Pacific region, up from just 23 in 2019.
Mandatory Registration
“We want to ensure crypto ATM providers have strong practices to prevent their machines from being used for criminal activity,” said AUSTRAC CEO Brendan Thomas. The taskforce has expanded its focus from crypto ATMs to broader industry compliance issues.
Under Australia’s Anti-Money Laundering and Counter-Terrorism Financing Act, all crypto ATMs must register with AUSTRAC, perform KYC checks, monitor transactions, and report suspicious activity.
